The present invention relates to a water-cooled internal combustion engine with a sound-absorbing cover, the enclosed space being provided with air inlet and outlet openings sealed against the penetration of sound, and being ventilated by cooling air during operation of the internal combustion engine, and including an exhaust jacket which is separated from the remaining space of the cover and has separate air ducts, a radiator cooling fan being placed outside of the cover in the vicinity of a cover wall serving as a radial deflector for the outgoing air from the fan, and with the exhaust jacket substantially leading upwards from its outlet to its inlet opening.